TOCANCIPÁ, Colombia, Sept. 13, 2023 (GLOBE NEWSWIRE) -- Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) ("Clever Leaves" or the "Company"), a global medicinal cannabis company, announced that it received notice from The Nasdaq Stock Market LLC ("Nasdaq") on September 11, 2023 informing the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the "Rule") for continued listing on the Nasdaq Capital Market.
On September 29, 2022, Clever Leaves received notice from Nasdaq that the Company was not in compliance with the Rule, as its common shares failed to meet a closing bid price of $1.00 or more for 30 consecutive business days. Clever Leaves received an additional 180 calendar day period to regain compliance on March 29, 2023, and the Company conducted a 1-for-30 reverse split of its common shares with marketplace effectiveness on August 25, 2023 to aid the compliance process.
To regain compliance with the Rule, the Company's common shares were required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days. This requirement was met on September 8, 2023.
About Clever Leaves Holdings Inc.
Clever Leaves is a global medical cannabis company. Its operations in Colombia produce EU GMP cannabinoid active pharmaceutical ingredients (API) and finished products in flower and extract form to a growing base of B2B customers around the globe. Clever Leaves aims to disrupt the traditional cannabis production industry by leveraging environmentally sustainable, ESG-friendly, industrial-scale and low-cost production methods, with the world's most stringent pharmaceutical quality certifications. Clever Leaves announces material information to the public through a variety of means, including filings with the Securities and Exchange Commission (the "SEC"), press releases, public conference calls, and its website ( Clever Leaves uses these channels, as well as social media, including its Twitter account (@clever_leaves), and its LinkedIn page ( to communicate with investors and the public about Clever Leaves, its products, and other matters. Therefore, Clever Leaves encourages investors, the media, and others interested in Clever Leaves to review the information it makes public in these locations, as such information could be deemed to be material information. Information on or that can be accessed through Clever Leaves' websites or these social media channels is not part of this release, and references to Clever Leaves' website addresses and social media channels are inactive textual references only.
Clever Leaves Investor Inquiries:
Cody Slach or Jackie Keshner
Gateway Group, Inc.
+1-949-574-3860
CLVR@Gateway-grp.com
Clever Leaves Press Contact:
Maria Petsanas
KCSA Strategic Communications
+1-917-692-6673
cleverleaves@kcsa.com
Clever Leaves Commercial Inquiries:
Andrew Miller
Head of Global Business Development
+1-416-817-1336
andrew.miller@cleverleaves.com